Renovated 9-Unit Apartment
For Sale
$1,750,000
9 Melton Street, Pawtucket, RI 02860
Pawtucket multifamily property with updated interiors, newer major systems, and a defined two-bedroom and one-bedroom unit mix.
Property SizeContact for details
Days on Market84
Property Features for 9 Melton Street
General Information
Standard status
Active
Property subtype
Commercial
Financials
Asking Price
$1,750,000
Cap Rate
7.2%
Gross Income
$185,280
Units
Unit Mix
7 x 2BR/1BA, 2 x 1BR/1BA
Multifamily Units
9
Building Details
Year Built
1988
Listing Agency:
New England Apartment Group
Listed By:
John Slyman
(401) 521-9490
Source:
Cthomeseekers
Added: May 21
Changed: Aug 11
Last Checked: Aug 11 at 10:36AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of New England Apartment Group
Investment Insights
Based on property information with market context.
This 9-unit apartment property in Pawtucket, Rhode Island, includes seven 2-bedroom/1-bath apartments and two 1-bedroom/1-bath apartments. Seven units have received full interior updates, including cabinetry, granite countertops, flooring, appliances, and bathroom vanities. Property-wide improvements include a newer roof, windows, and boilers.
The property produces in-place rental income and is operating at a 7.2% cap rate. Existing rents are below the stated market level, with the offering projected at an 8.2% cap rate when rents reach that level as leases renew. Built in 1988, the asset combines a documented unit mix with completed interior renovations and upgraded core building systems.
The property produces in-place rental income and is operating at a 7.2% cap rate. Existing rents are below the stated market level, with the offering projected at an 8.2% cap rate when rents reach that level as leases renew. Built in 1988, the asset combines a documented unit mix with completed interior renovations and upgraded core building systems.
Key Highlights
- 9‑unit multifamily property built in 1988
- Unit mix includes seven 2‑bedroom/1‑bath and two 1‑bedroom/1‑bath apartments
- Seven of nine units fully updated with new cabinetry, granite countertops, flooring, appliances, and bathroom vanities
Property Analytics
Property Profile
Current Use
Lease Details
9
Residential units
Location Intelligence
Trade Area within ½ mile
1,334
Businesses Nearby
Explore this area
Business Placement
Demographics for 02860, RI
47,894
Population
21,467
Households
2.2
Avg Household Size
37
Median Age
25%
College-Educated
80%
High-School Grad
5.3 sq mi
ZIP Area
9,037
Density / Sq Mi
$59,954
Median Household Income
$42,038
Median Earnings
$1,112
Median Rent
$287,400
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Apartment building - Pawtucket multifamily property with updated interiors, newer major systems, and a defined two-bedroom and one-bedroom unit mix.
Where is this apartment building located?
The property is located at 9 Melton Street Pawtucket, RI.
What is the asking price?
The asking price for this property is $1,750,000.
What are key features of this property?
This property features: 9‑unit multifamily property built in 1988; Unit mix includes seven 2‑bedroom/1‑bath and two 1‑bedroom/1‑bath apartments; Seven of nine units fully updated with new cabinetry, granite countertops, flooring, appliances, and bathroom vanities
